Bid Security 2
- A Procuring Entity (PE) initiated procurement proceedings for the procurement of computers, where there was a requirement for the submission a bid security in the form of a Manager’s Cheque;
- Two companies deviated from this requirement;
- One company submitted a Tender Bond from an insurance agency and the other submitted a bid guarantee from a bank in the required amount.
- The PE advanced that it was specifically stated in the bid document that a bid security must be submitted in the form of a Manager’s Cheque; and thus required guidance on how to proceed.